Sensata talks $450 million eight-year notes 8%-8¼%, $300 million equivalent 10-year notes 9%-9¼%

By Paul A. Harris

St. Louis, April 19 - Sensata Technologies BV issued price talk Wednesday on its downsized $750 million equivalent offering of notes, according to an informed source.

The Attleboro, Mass., supplier of engineered sensors and controls talked a $450 million tranche of eight-year senior notes (B2/B-) at 8% to 8¼%.

Meanwhile a $300 million equivalent tranche of euro-denominated 10-year senior subordinated notes (B2/B-) is talked at 9% to 9¼%.

Pricing is expected to take place Friday.

Morgan Stanley, Banc of America Securities LLC and Goldman Sachs & Co. are joint bookrunners for the Rule 144A transaction.

Proceeds will be used to help fund the $3 billion acquisition of the Texas Instruments Sensors & Controls business by Bain Capital LLC. Bain is also providing $975 million in equity.

The bond financing was decreased to $750 million from $900 million, with $150 million shifted to the company's credit facility.

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